Ann: Company Update on Cornerstone Investor-GMC.AX, page-2

So turns out he's legit!
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Gulf Manganese Corporation Limited (ASX: GMC) (‘Gulf’ or ‘the Company’) advises that it has received a Certificate of Deposit for US$200,000 from Marthen Amitran (“Pak Marthen”), following the signing of a term sheet on the 5th August.

Under the term sheet, the proposed cornerstone investment from Pak Marthen is US$10 million for 10% equity in Gulf’s Indonesian-based subsidiary PT Gulf Mangan Grup (“PT Gulf”) ‐ including a six month option to invest a further US$7 million.

The remaining funds, being US$9,800,000 will be deposited within seven days of the granting of relevant permits and licenses to operate the Kupang Smelting Hub. This initial deposit demonstrates Pak Marthen’s commitment to fund the development of the Kupang Smelting Hub.

Gulf will provide the market with further updates on the cornerstone investment and the pending Kupang site approvals in due course